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US 2009/0276348 A1Published application
Multiple protocol trading system
AssigneeICAP Services North America LLC
InventorsDeborah Kessler, Daniel Cleaves
Life of this patent
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AssigneeICAP Services North America LLC
InventorsDeborah Kessler, Daniel Cleaves
Estimating the term…
A multi-protocol trading system in which traders preferring different trading protocols may coexist within the same system, and access the same liquidity pool, while maintaining their trading rule preferences. The system supports two protocol preferences: a workup preference and a FIFO preference, and includes a single integrated order book that stores orders received from both workup and FIFO traders. Received orders are matched against orders in the order book in accordance with a FIFO and/or workup protocol, as a function of preferences selected by the traders and/or the system operator. Alternatively, the system includes a pair of order books, a workup order book and a FIFO order book. Customers submit linked orders having a workup leg and a FIFO leg which may be matched against the workup and/or FIFO order books, as a function of preferences selected by the traders and/or the system operator.
An electronic trading system that allows for trading of a financial instrument in accordance with a plurality of trading protocols, said system comprising:
An interface to a central computer system for facilitating electronic trading of a financial instrument by a trader in accordance with a plurality of trading protocols, comprising:
A method for facilitating electronic trading of a financial instrument by a trader in accordance with a plurality of trading protocols, comprising:
Dependencies are inferred from the claim text.